Energy Vault (NYSE:NRGV) Releases Earnings Results, Misses Expectations By $0.03 EPS

Energy Vault (NYSE:NRGV) released its quarterly earnings data on Tuesday. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03), Zacks reports. The firm had revenue of $1.20 million during the quarter, compared to the consensus estimate of $4.80 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. During the same quarter in the prior year, the company earned ($0.13) EPS.

Energy Vault Stock Performance

Shares of Energy Vault stock traded down $0.12 on Friday, hitting $1.55. The stock had a trading volume of 451,711 shares, compared to its average volume of 839,336. The firm has a market capitalization of $232.49 million, a P/E ratio of -2.38 and a beta of 0.45. The stock has a 50 day moving average of $1.32 and a 200 day moving average of $1.18. Energy Vault has a twelve month low of $0.78 and a twelve month high of $2.69.

Analyst Ratings Changes

A number of brokerages recently commented on NRGV. TD Cowen restated a “buy” rating and set a $2.50 price objective on shares of Energy Vault in a report on Wednesday. Roth Mkm dropped their price objective on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $1.95.

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.